How fintech Flux is helping millennials get serious about their money and credit score

Ordering their favourite take out, picking up a new pair of shoes, or organising a ride to get from A to B, it’s safe to say every millennial has done at least one of these with their smartphone.

Although having the world at your fingertips is the ultimate dream, there is a degree of responsibility. From the moment you start using credit, Buy Now, Pay Later (BNPL) or when your name is on a utility bill, your money habits are shaping your credit score.

While you might not think your credit score is a big deal now, it could be the difference between being approved or rejected for a home loan later on.

“In 2020, we’ve seen the boom of Buy Now Pay Later services like Afterpay and Zip. But very few young Aussies know that these services can affect your chances of taking out a loan in the future,” said co-founder of fintech, Flux, Justin Joffe.

“Imagine in 5 years your bank rejects your home loan application because of a missed repayment for that Mecca spending spree or Nintendo Switch that you bought on a whim.”

According to Flux, more than one in two Aussies struggle with financial literacy, like understanding how to keep your credit health in the green.

Flux is among some of the many tools out there helping younger Aussies tap into their financial freedom and ensure their relationship with money is a positive one.

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Source: How fintech Flux is helping millennials get serious about their money and credit score